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CAT 1997 — DILR Question 38

TablesEasy
Passage / Data

Direction: Answer the questions based on the following table.
The table given below gives the annual details of loans from rural banks and agricultural loans over the years 1970 to 1983. Using this data answer the questions that follow.

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What is the simple annual rate of increase in the number of agricultural loans from 1970 to 1983?

Answer & solution

Correct answer: 75%

  • A

    132%

  • B

    81%

  • 75%

  • D

    1056%

Solution

From 1970 to 1983, in 13 years the number of agricultural loans went up from 18,300 to 2,11,600, an increase of 1,93,300. So percentage increase in this = 19330018300 = 1057. However, this growth is spread across 13 years. Hence, simple annual rate of increase = 105713 = 81.3% = 81 (Approximately)

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CAT 1997 DILR Q38: What is the simple annual rate of increase in the number of agricultural loans from 1970 to 1983? — Solution | TheCATExam